OP Asset Management Ltd Takes $1.86 Million Position in Weyerhaeuser Company $WY

OP Asset Management Ltd acquired a new position in shares of Weyerhaeuser Company (NYSE:WY) during the first quarter, Holdings Channel reports. The fund acquired 76,331 shares of the real estate investment trust’s stock, valued at approximately $1,865,000.

Several other large investors also recently made changes to their positions in the company. NovaPoint Capital LLC increased its position in Weyerhaeuser by 2.7% in the 4th quarter. NovaPoint Capital LLC now owns 14,857 shares of the real estate investment trust’s stock valued at $352,000 after buying an additional 385 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Weyerhaeuser by 21.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,406 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 428 shares in the last quarter. Summit Financial LLC boosted its holdings in Weyerhaeuser by 1.3% in the fourth quarter. Summit Financial LLC now owns 32,553 shares of the real estate investment trust’s stock worth $771,000 after acquiring an additional 428 shares in the last quarter. BOKF NA grew its stake in Weyerhaeuser by 4.6% in the third quarter. BOKF NA now owns 10,503 shares of the real estate investment trust’s stock valued at $260,000 after acquiring an additional 463 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Weyerhaeuser by 23.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,495 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 472 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WY shares. JPMorgan Chase & Co. lowered their target price on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a research report on Thursday, April 23rd. DA Davidson restated a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a research note on Monday, May 4th. Weiss Ratings downgraded shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Truist Financial dropped their price objective on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, April 15th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.88.

Weyerhaeuser Stock Performance

Shares of Weyerhaeuser stock opened at $25.32 on Monday. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $27.75. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $24.26 and a 200-day moving average price of $24.60. The company has a market cap of $18.26 billion, a PE ratio of 46.89, a price-to-earnings-growth ratio of 1.44 and a beta of 0.89.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the firm earned $0.11 earnings per share. Weyerhaeuser’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts anticipate that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, June 5th. This represents a $0.84 annualized dividend and a yield of 3.3%. Weyerhaeuser’s dividend payout ratio (DPR) is 155.56%.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.